Media Release: UK Spring Budget 2017 – SCDI comment

‘Steady-as-she-goes’ Budget must lead to urgent action

WHILE the Chancellor Phillip Hammond MP’s safety-first budget was understandable in the context of Brexit, there was a lack of urgency about key measures to reinvigorate growth in the Scottish economy – according to the Scottish Council for Development & Industry (SCDI).

SCDI director of Policy & Place, Claire Mack, said: “While we welcome the indications by the Chancellor of future action and additional funding for the Scottish Government, SCDI is disappointed that there was a lack of clarity and urgency over UK Government support for key areas of the Scottish economy.

“This includes plans for the oil and gas sector and further city and regional growth deals in Scotland.

“While, overall, a safety-first approach is understandable in the context of Brexit and the extra funding for UK innovation was positive, the Chancellor missed some opportunities to improve Scotland’s competitiveness as the UK embarks on the process of leaving the EU.

“SCDI hopes that making progress in these areas is now given a high priority as the Industrial Strategy is developed.

“The measures announced on self-employment highlight a very significant structural change for the economy in employment practices, particularly due to new technologies, and SCDI will be discussing these issues with the Taylor Review as it develops its recommendations.

“This is sure to continue to be a major focus of discussion for future Budgets and the modernisation of employment law.”

ENDS

Notes to editors:

SCDI (Scottish Council for Development & Industry) is an independent and inclusive economic development network which seeks to influence and inspire Government and key stakeholders with our ambitious vision to create sustainable economic growth for Scotland.

SCDI’s diverse and influential membership – across the public, private and social economy sectors – forms a gathering of knowledge, experience and talent which provides a dynamic and creative force for change.